Sands Capital Management’s Kaspi.kz JSC KSPI Stock Holding History

Sands Capital Management’s Portfolio KSPI Stock Details KSPI Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q1	$117M	Sell	1,586,334 -362,427	-19%	-$27.3M	0.46%	41
2025 Q4	$152M	Buy	1,948,761 +304,521	+19%	+$23M	0.46%	41
2025 Q3	$134M	Sell	1,644,240 -37,773	-2%	-$3.31M	0.37%	43
2025 Q2	$143M	Buy	1,682,013 +370,556	+28%	+$31.6M	0.41%	43
2025 Q1	$122M	Sell	1,311,457 -130,029	-9%	-$12.7M	0.41%	43
2024 Q4	$137M	Sell	1,441,486 -36,728	-2%	-$3.93M	0.4%	42
2024 Q3	$157M	Sell	1,478,214 -42,127	-3%	-$5.23M	0.48%	46
2024 Q2	$196M	Sell	1,520,341 -127,796	-8%	-$15.7M	0.58%	39
2024 Q1	$212M	Buy	+1,648,137	New	+$169M	0.59%	39

Other funds holding KSPI

BFMH

Baring Fintech Manager Holding Castel, Guernsey $1.34B AUM 20.23% 1-Year Est. Return

BDP

Brehaut David Pascal $908M AUM

BFFIM

Baring Fintech Fund III Managers St Peter Port, Guernsey $893M AUM 20.23% 1-Year Est. Return

Baillie Gifford & Co Edinburgh, United Kingdom $97.9B AUM 20.73% 1-Year Est. Return

Fidelity International Hamilton, Bermuda $129B AUM 30.83% 1-Year Est. Return

Pzena Investment Management New York $30.8B AUM 11.29% 1-Year Est. Return

Fidelity Investments Boston, Massachusetts $1.9T AUM 41.92% 1-Year Est. Return

Schroder Investment Management Group London, United Kingdom $122B AUM 29.27% 1-Year Est. Return

Ameriprise Minneapolis, Minnesota $432B AUM 30.22% 1-Year Est. Return

VAS

VR Advisory Services Camana Bay, Grand Cayman, Cayman Islands $845M AUM 22.79% 1-Year Est. Return

Sands Capital Management's KSPI Position: Q1 2026 in Review

Sands Capital Management reduced its Kaspi.kz JSC (KSPI) stake by 19% in Q1 2026, selling an estimated $27.3M and leaving 1,586,334 shares worth $117M. The position accounts for 0.46% of the portfolio, ranked #41.

Sands Capital Management first reported a position in KSPI in Q1 2024 and has held it in 9 quarters since. The position peaked at $212M in Q1 2024. 165 funds tracked by Wall St. Rank hold KSPI as of Q1 2026.

Sands Capital Management held 1,586,334 shares of Kaspi.kz JSC worth $117M as of Q1 2026.
Sands Capital Management sold 362,427 Kaspi.kz JSC shares in Q1 2026, an estimated $27.3M.
Kaspi.kz JSC made up 0.46% of Sands Capital Management's portfolio in Q1 2026, its #41 holding.
Sands Capital Management first reported a position in Kaspi.kz JSC in Q1 2024 and has held it in 9 quarters since.
Sands Capital Management's Kaspi.kz JSC position peaked at $212M in Q1 2024.
165 funds tracked by Wall St. Rank held Kaspi.kz JSC as of Q1 2026.

Based on Sands Capital Management's 13F filing for Q1 2026, filed 8 May 2026.